Core Wealth Partners LLC Grows Position in Chevron Co. (NYSE:CVX)

Core Wealth Partners LLC increased its position in Chevron Co. (NYSE:CVX) by 3.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,912 shares of the oil and gas company’s stock after purchasing an additional 316 shares during the period. Core Wealth Partners LLC’s holdings in Chevron were worth $1,291,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. United Bank increased its stake in shares of Chevron by 8.4% during the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after purchasing an additional 629 shares in the last quarter. DRW Securities LLC grew its stake in shares of Chevron by 315.2% in the 3rd quarter. DRW Securities LLC now owns 11,210 shares of the oil and gas company’s stock worth $1,651,000 after buying an additional 8,510 shares during the last quarter. Loomis Sayles & Co. L P increased its position in Chevron by 7.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,413 shares of the oil and gas company’s stock valued at $355,000 after buying an additional 163 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in Chevron by 13.6% during the third quarter. Brown Brothers Harriman & Co. now owns 54,857 shares of the oil and gas company’s stock valued at $8,079,000 after buying an additional 6,558 shares during the last quarter. Finally, Truvestments Capital LLC bought a new stake in Chevron in the third quarter worth $180,000. Institutional investors own 72.42% of the company’s stock.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

CVX opened at $165.93 on Wednesday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.82. The company has a market cap of $292.14 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.46 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $156.67 and its 200 day moving average is $153.01.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the firm posted $3.45 EPS. On average, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.12%. Chevron’s dividend payout ratio is presently 70.37%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVX. Barclays lowered their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Truist Financial decreased their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. UBS Group cut their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Piper Sandler decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.